Intech Investment Management LLC Makes New $242,000 Investment in Accel Entertainment, Inc. (NYSE:ACEL)

Intech Investment Management LLC purchased a new stake in shares of Accel Entertainment, Inc. (NYSE:ACEL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 22,695 shares of the company’s stock, valued at approximately $242,000.

Other hedge funds have also made changes to their positions in the company. New York State Teachers Retirement System purchased a new position in Accel Entertainment during the 4th quarter worth approximately $51,000. Point72 Asset Management L.P. acquired a new position in Accel Entertainment during the third quarter valued at $64,000. Quantbot Technologies LP acquired a new position in Accel Entertainment during the third quarter valued at $78,000. R Squared Ltd purchased a new stake in Accel Entertainment in the 4th quarter worth about $91,000. Finally, EP Wealth Advisors LLC acquired a new stake in Accel Entertainment during the 3rd quarter worth about $146,000. Hedge funds and other institutional investors own 55.39% of the company’s stock.

Accel Entertainment Trading Up 1.0 %

NYSE ACEL opened at $10.23 on Thursday. The company has a current ratio of 2.71, a quick ratio of 2.63 and a debt-to-equity ratio of 2.54. Accel Entertainment, Inc. has a 1-year low of $9.37 and a 1-year high of $12.96. The firm’s fifty day simple moving average is $11.03 and its 200-day simple moving average is $11.24. The company has a market capitalization of $874.86 million, a PE ratio of 20.05 and a beta of 1.54.

Insiders Place Their Bets

In other Accel Entertainment news, Director David W. Ruttenberg sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $10.61, for a total value of $265,250.00. Following the completion of the sale, the director now directly owns 348,135 shares of the company’s stock, valued at $3,693,712.35. The trade was a 6.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 19.17% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Macquarie increased their price target on shares of Accel Entertainment from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th.

About Accel Entertainment

Accel Entertainment, Inc, together with its subsidiaries, operates as a distributed gaming operator in the United States. It is involved in the installation, maintenance, and operation of gaming terminals; redemption devices that disburse winnings and contain automated teller machine (ATM) functionality; and other amusement devices in authorized non-casino locations, such as restaurants, bars, taverns, convenience stores, liquor stores, truck stops, and grocery stores.